CDC’s revenue up in 2011

Revenue in Clark Development Corporation has increased in 2011 compared to the previous year, the Corporate Planning Department of the state-owned firm reported.

In the reports submitted to CDC Chair and Officer-in Charge Eduardo Oban, Jr., the gross revenue for last year has reached P984,361 million compared to the 2010 revenue of P898,673 million.

CPD said that there’s an increase of P85,643 million in the revenue collected by CDC from the various locators in Clark.

There are 552 active locators, with 64,256 workers, which generates income/revenue for the Clark Freeport Zone.

This year alone, there are 36 new investments since January, including 17 newly leased agreements, who are committed to pour more than P2.6 billion investments in the next five years and expected to generate 433 job opportunities for Clark.

The increase in investments in Clark is due to the sound economic policies of the President Aquino which largely help boost the potential of Clark as one of the most progressive Freeport zones in the country today.

More than 8,200 workers are expected to generate from the more than 200 projects that signed agreements with CDC from January to December 2011.

The increase of the employment figure this year should the 207 new lease and sub lease projects signed last year commence operations in 2012.

CDC said that more than P22.9 billion were committed by the 2011 signed projects which he hopes to boost the further development of Clark into one of the most complete investment destinations in Asia.

The new investments in Clark expect to generate more income for the Clark Freeport in 2012.


Source: CDC Public Relations Department